Editor’s Note: As Michael Snyder notes, JP Morgan Chase, Goldman Sachs, Citibank, Bank of America, Morgan Stanley, and plenty of others have manipulated the market with these derivative bets, and have at least $40 trillion in derivatives exposure. If Congress passes FDIC protection for these controversial and complex financial instruments, it could dwarf existing debt held by the federal government and cost taxpayers an absolutely insurmountable sum, all while letting the bankers walk away free, and with their other winnings in hand.